L1 terms 2024

Money that you earn, it could be by doing business or by doing some work.

• Deficiit

• Cash

• Income

• Dollars

Money you or a business spends.

• Easy money

• Expenses

• Income

• Assets

The money you owe to someone eg to a friend or a bank and you have to give it back. Its become your

• income

• debt

• pain

• problem

This happens when expenses are greater than income.

• a surplus

• a deficit

• a headache

• a migrain

The money remaining when income is greater than expenses.

• a surplus

• a deficit

• a lottery

• a migrain

This is when a property (eg a car) loses some of its value over time.

• an appreciation

• a depreciation

• a loss

• a problem

Anything that has value— cash in hand or in bank, a house, a shop, equipment and anything else that can be turned into cash.

• A blessing

• an asset

• cash convertor

• a loss

Being legally responsible for something that you have done or caused.

• a reliability

• a liability

• a problem

• a case

Declared in law as unable to pay their debts, all belonging taken and sold - an order made in court.

• an asset

• a liability

• bankrupt

• legal loss

A estimate of income and expenses expected over a certain period of tim

• a guess

• a report

• a budget

• an expense